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By Modest Steve Brown | Friday 9 September 2016
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Well maybe not all the way down but at least all the way down to 1646m TVDSS. Hurricane (HUR) has announced the results of its 205/21a-7 well and Robert Trice has to be really delighted with what they have found, not just PR delighted, They have proved mobile oil down to 1646m TVDSS about 240m below structural closure. This is really significant and I reckon using my trusty slide rule that could support an oil in place of about 1.3 billion bbls.
The flow rate on the well test was excellent too and shows what rate you can get as long as you hit a fracture zone. With the aquifer being porous & permeable that is encouraging for some natural pressure support when the field is on production. A 620 meter oil column means you don’t need to worry too much about water shooting up the fractures and drowning the production wells either.
I am guessing that a 300 mmbbls recoverable figure is in the bag, and Hurricane could be knocking on 400 mmbbls without stretching the imagination too much.
Is now a good time to remind you all that I tipped Hurricane at 15.5p on the offer last October, or shouldn’t I mention that. I only mention it as I see that the shares are now 29.125p to sell. But on balance perhaps I should retain my normal modesty and not flag this up to prominently.
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